AMD - Bounce off the $100 Level

As everyone on Twitter is expecting right now, I believe there will be a strong bounce at the $100 level.

Weekly Timeframe:

• Quadruple Bottom - much like SOXL
  
• Massive volume at this level
  
• Strong Volume shelf
  
• Strong Hidden Bullish Divergence
  

Daily Timeframe:

• Triple Bottom
  
• Strong Bullish Divergence
  
• Solid Volume Shelf
  
• $100 is a strong psych level
  
• Earnings is soon
  
• Bottom of an RSI-based demand zone
  

65m Timeframe:

• Strong Bullish Divergence
  
• While volume is higher than normal, seller volume has decreased
  
• Options flow strongly favors calls - targeting $110
  
• Falling Wedge
  

Price Targets:

Calls:

• PT1: $103.75
  
• PT2: $105.30
  
• PT3: $106.20
  
• PT4+: $110.00
  

Puts:

• Break of $100 Level only
  

評論:

This medium bullish divergence has become strong bullish divergence. I am in puts as mentioned, but I will continue to watch this for a reversal.